Do I qualify for the First Home Owner Grant (FHOG) in NSW?

The NSW FHOG is $10,000 for new homes valued up to $600,000. To qualify, you must be an Australian citizen or permanent resident, never owned a property before, and intend to live in the home as your principal place of residence for at least 6 months.

I'm on a visa — can I still get a first home loan in Australia?

It depends on your visa type. Permanent residents can access the same loans and grants as citizens. Temporary visa holders face more restrictions — government grants are not available, and some lenders may require a larger deposit.

Should I choose a fixed or variable rate as a first home buyer?

Fixed rates offer certainty while variable rates tend to be lower but can move with the market. Many first home buyers opt for a split loan. The best choice depends on your budget flexibility, how long you plan to stay in the home, and where interest rates are heading.

Speak to a Broker Now — 0432 634 648 · Mon–Sat 9am–7pm

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First Home Buyer Specialist · FHOG · 5% Deposit

Buy Your First Home
With as Little as 5% Deposit

Name: Mortgagefy
Address: Sydney, NSW, AU
Telephone: +61432634648
Price range: Free

Mortgagefy Broker Team · Published 2026-04-07 · Last reviewed 2026-04-29

Grants, stamp duty exemptions and government guarantee schemes can save you $30,000+. We'll show you exactly what you qualify for — free.

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First Home Guarantee Partner

$0 Broker Fee

Check Borrowing Power Call 0432 634 648

Get Your First Home Plan — Free

A mortgage broker will contact you within 24 hours. No obligation.

How Much Deposit Do You Really Need?

You May Not Need 20% — Here's Why

Government-backed schemes mean many first home buyers can purchase with far less than they think.

5% Deposit

First Home Guarantee

Government-backed scheme. Buy with 5% deposit and NO LMI. Limited places each financial year. Income caps apply ($125k single / $200k couples). Available on new and existing homes.

10% Deposit

Guarantor or Specialist Lender

With a guarantor or specialist lender, 10% is achievable. LMI may apply unless you use the Family Home Guarantee or a guarantor structure where a parent secures the remaining portion.

20% Deposit

Traditional — No LMI

The traditional 20% avoids LMI entirely. If you're close to 20%, it may be worth saving a little longer to avoid a $10,000–$25,000 LMI premium that would otherwise be capitalised into your loan.

Not sure where you sit? Use our upfront costs calculator to find out exactly what you need.

Government Help Available to First Home Buyers

Multiple federal and state programs can stack together — a broker will confirm exactly which apply to your situation.

First Home Owner Grant

Up to $10,000 on new homes (NSW). Applies to new builds and off-the-plan purchases under $600k. State-funded, one-off cash grant paid at settlement.

First Home Guarantee

Buy with 5% deposit, no LMI. Government guarantees 15% of the loan. 35,000 places p.a. nationwide. Available on new and existing properties.

Stamp Duty Exemption

NSW: $0 stamp duty under $650k. VIC: Full exemption under $600k. QLD: Exemption under $500k. Saves up to $24,000.

Family Home Guarantee

Single parents with a dependent child can buy with just 2% deposit and no LMI through this federal scheme. Available on new and existing homes.

Eligibility varies by state and purchase price. in your situation — at no cost.

Calculate Your Total Upfront Costs

Find out exactly how much cash you need to buy your first home — including stamp duty, LMI, legal fees, and grants.

Your Property Details

Purchase Price

Your Deposit / Savings

State

What's included in the estimate?

✓ Stamp duty (with FHB exemptions applied)
✓ LMI estimate (waived if using First Home Guarantee)
✓ Legal / conveyancing fees (~$1,800)
✓ Building & pest inspection (~$900)
✓ Miscellaneous (removalist, connections, ~$500)

Live Estimate Updates as you type

Total Cash Required

$62,500

Deposit: 7.7% — LMI may apply

Stamp duty: $0 (FHB exemption)

Full cost breakdown + grant eligibility locked

Your Step-by-Step First Home Journey

From first thought to collecting the keys — here's exactly how the process works with Mortgagefy.

Work Out Your Budget

Borrowing power calculation, upfront cost estimate, and ongoing repayment modelling. Know your numbers before you start searching — it saves months of wasted time and protects you from falling in love with a property you can't afford.

Apply for Pre-Approval

Get formally pre-approved so you can bid at auction and make offers with confidence. We submit to your chosen lender and manage the process. Takes 2–5 business days for most applicants with clean documentation.

Find Your Property

With pre-approval confirmed, start searching within your budget. Your broker stays on call for rate queries, purchasing structure advice, and to update your pre-approval if your target price changes.

Apply for Grants

We lodge the First Home Owner Grant application and confirm scheme eligibility (First Home Guarantee, stamp duty exemption) before or at the same time as your formal loan application to avoid delays.

Settle & Move In

We manage the lender, solicitor, and settlement agent right through to settlement day. All you need to do is collect the keys and start moving in. We're available throughout the entire process.

First Home Buyer Case Studies

Illustrative examples of how we help first home buyers across Sydney.

The following case studies are illustrative examples based on typical borrower scenarios. They do not represent specific individual clients. Actual outcomes depend on individual circumstances, lender assessment, and market conditions at time of application. Mortgagefy (Credit Representative No. 532656) provides credit assistance only and does not guarantee loan approval or specific outcomes.

📋 Illustrative Case Study

First Home Buyer — Penrith, NSW

In this scenario, a first home buyer unaware of available government schemes accessed the First Home Guarantee and stamp duty exemption, saving approximately $28,000 in upfront costs and purchasing with a 5% deposit.

What we did: Identified all eligible schemes, structured loan under First Home Guarantee program.

Illustrative example only. Individual outcomes vary based on loan amount, lender assessment, and personal financial circumstances.

📋 Illustrative Case Study

Islamic Finance — First Home Buyer, Auburn

In this scenario, a first home buyer requiring Sharia-compliant finance was connected with a genuine Ijara/Diminishing Musharakah product — a no-interest structure reviewed by a Shariah supervisory board.

What we did: Connected buyer with certified halal lender, managed full application and settlement process.

Illustrative example only. Individual outcomes vary based on loan amount, lender assessment, and personal financial circumstances.

📋 Illustrative Case Study

Low Deposit Purchase — Western Sydney

In this scenario, a first home buyer who believed they needed a much larger deposit was able to purchase using the First Home Guarantee with a 5% deposit, settling within 8 weeks of first enquiry.

What we did: Assessed full eligibility, matched to First Home Guarantee lender, managed entire process.

Illustrative example only. Individual outcomes vary based on loan amount, lender assessment, and personal financial circumstances.

Wide lender panel · Banks + Specialists

Compare loan options from major banks and specialist lenders.

Explore All Our Lenders

Wide lender panel · Banks + Specialists Personalised Loan Options No Obligation Assessment

We work with a wide panel of lenders across Australia. We are not tied to any one lender and compare loan options to help find a solution that suits your needs. All applications are subject to lender approval and lending criteria.

First Home Buyer FAQs

Common questions from first home buyers — answered clearly.

The First Home Guarantee (FHBG) is a federal government scheme that allows eligible first home buyers to purchase with a 5% deposit and no Lenders Mortgage Insurance (LMI). The government guarantees the remaining 15% of the property value, removing the need for LMI. To qualify: you must be an Australian citizen or permanent resident; income must be under $125,000 (single) or $200,000 (couples combined); you must be a genuine first home buyer with no prior property ownership in Australia; and the property must meet price caps that vary by state and whether the property is in a capital city, regional area, or other location. Both new and existing homes are eligible. There are 35,000 places available each financial year — places fill up, so early application is recommended.

The First Home Owner Grant (FHOG) is a one-off cash grant paid by state governments for the purchase or construction of a new home. In NSW, the grant is $10,000 for new homes valued under $600,000. In QLD it's $30,000 for new builds under $750,000. In WA it's $10,000 for new homes. The FHOG only applies to new homes — not existing properties. You must be an Australian citizen or permanent resident, a first home owner who hasn't previously received the grant, and you must intend to live in the property as your principal place of residence for at least 12 months. Your broker will confirm eligibility for your specific state and property type.

No. The First Home Guarantee is strictly for owner-occupiers. You must move into the property within a reasonable timeframe (usually within 12 months of settlement) and use it as your principal place of residence. If you purchase using the scheme and later rent out the property without appropriate notification, you may be required to pay LMI retrospectively. If you're planning to buy as an investor or eventually rent the property out, your broker will discuss the right structure for your goals — investment property lending has different requirements and rate options.

Pre-approval typically takes 2–5 business days once all documentation is submitted and verified. Formal approval (after exchanging contracts on a specific property) takes 4–8 weeks, depending on the lender's current turnaround times and valuation requirements. Settlement typically occurs 4–6 weeks after formal approval, though this is negotiated in the contract of sale. The entire process from first contact to settlement is typically 8–14 weeks for most first home buyers with a straightforward application.

Pre-approval (also called conditional approval) is the lender's written indication that they're prepared to lend you up to a certain amount, subject to conditions — typically a satisfactory property valuation and final verification of your financial position at time of application. It gives you the confidence to bid at auction and make offers. Formal approval (unconditional approval) is issued after you've found a specific property, the lender has assessed it via a valuation, and all conditions have been met. Once formal approval is issued, the loan is confirmed and you can proceed to exchange and settlement. It's important to understand that pre-approval does not guarantee formal approval — especially if your financial situation changes between the two stages.

Ready to Buy Your First Home?

A first home buyer specialist will review your eligibility for grants, schemes, and the best loan options — free, same-day callback.

Request Received!

A first home buyer specialist will call you within 24 hours to discuss your grants, scheme eligibility, and best loan options.

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First Home Buyer Questions Answered

Common questions from Sydney first home buyers — answered clearly.

Most lenders require a minimum 5% deposit, though you'll pay Lenders Mortgage Insurance (LMI) on anything below 20%. As a first home buyer in NSW, you may qualify for the First Home Guarantee (5% deposit, no LMI) or the Family Home Guarantee (2% deposit for single parents). Stamp duty exemptions can also reduce how much cash you need upfront. Every situation is different — we'll assess exactly what applies to you. Learn about waived LMI options →

The NSW FHOG is $10,000 for new homes valued up to $600,000 (or up to $750,000 in some cases). To qualify, you must be an Australian citizen or permanent resident, have never owned a property before, and intend to live in the home as your principal place of residence for at least 6 months. Established homes do not qualify for the FHOG, but may still attract stamp duty concessions. We'll confirm your eligibility as part of your free assessment.

Pre-approval typically takes 2–5 business days once we submit your documents. Full formal approval after a property is found usually takes 5–10 business days depending on the lender. Complex income situations (casual employment, ABN income) can add time. We recommend getting pre-approved before you start inspecting properties so you can bid with confidence. Check your borrowing power →

Yes — many of our clients purchase solo. Your borrowing capacity on a single income will be lower than a couple's combined income, but it's very achievable, especially in growth suburbs across Western Sydney and the Campbelltown corridor. Government schemes like the Family Home Guarantee (for eligible single parents) can help significantly. We'll look at your specific income, debts, and savings to show you exactly what price range you can target.

It depends on your visa type. Permanent residents can generally access the same loans and grants as citizens. Temporary visa holders (e.g., 482, 457, student visas) face more restrictions — government grants are not available, and some lenders may require a larger deposit or charge a foreign buyer surcharge. That said, specialist lenders do cater to certain temporary residents. We'll match you with the right lender for your visa situation. See our specialist lending options →

Fixed rates offer certainty — you know exactly what your repayments will be. Variable rates tend to be lower but can move with the market. Many first home buyers opt for a split loan: fixing a portion for stability while keeping some variable to allow extra repayments without break costs. The best choice depends on your budget flexibility, how long you plan to stay in the home, and where interest rates are heading. We'll walk you through current rate comparisons across our lender panel.

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Get into your first home faster with grants, low-deposit and guarantor pathways

Start Your Free Assessment Call 0432 634 648

Buy Your First Home
With as Little as 5% Deposit

Get Your First Home Plan — Free

You May Not Need 20% — Here's Why

5% Deposit

10% Deposit

20% Deposit

Government Help Available to First Home Buyers

First Home Owner Grant

First Home Guarantee

Stamp Duty Exemption

Family Home Guarantee

Calculate Your Total Upfront Costs

Your Property Details

Your Step-by-Step First Home Journey

Work Out Your Budget

Apply for Pre-Approval

Find Your Property

Apply for Grants

Settle & Move In

First Home Buyer Case Studies

Wide lender panel · Banks + Specialists

First Home Buyer FAQs

Ready to Buy Your First Home?

Request Received!

First Home Buyer Questions Answered

Further Reading — First Home Buyer Guides

Unlock Your First Home Cost Breakdown

Result Unlocked!

Get your free Sydney first home buyer assessment

Buy Your First HomeWith as Little as 5% Deposit

Get Your First Home Plan — Free

You May Not Need 20% — Here's Why

5% Deposit

10% Deposit

20% Deposit

Government Help Available to First Home Buyers

First Home Owner Grant

First Home Guarantee

Stamp Duty Exemption

Family Home Guarantee

Calculate Your Total Upfront Costs

Your Property Details

Your Step-by-Step First Home Journey

Work Out Your Budget

Apply for Pre-Approval

Find Your Property

Apply for Grants

Settle & Move In

First Home Buyer Case Studies

Wide lender panel · Banks + Specialists

First Home Buyer FAQs

Ready to Buy Your First Home?

Request Received!

First Home Buyer Questions Answered

Further Reading — First Home Buyer Guides

Unlock Your First Home Cost Breakdown

Result Unlocked!

Free First Home Assessment

Before You Go — Find Out What You Qualify For

Get your free Sydney first home buyer assessment

Buy Your First Home
With as Little as 5% Deposit